The national government of Sri Lanka says it plans to complete the establishment of the country’s new Gambling Regulatory Authority by June 30 next year. That is according to information provided earlier this month to the Committee on Public Finance of the country’s parliament, as reported by several media outlets.
Last August, Sri Lanka’s parliament passed legislation enabling the creation of a Gambling Regulatory Authority.
According to the Gambling Regulatory Authority Act, the new regulator is to have a broad mandate, including the collection of gambling-related revenue, ensuring transparency and good governance in the industry, curbing illegal gambling, and standardising betting and gaming establishments.
Findings from a survey presented on October 10 to the Committee on Public Finance of Sri Lanka’s parliament concluded that around 30 to 40 percent of casino players in the country physically visit land-based gaming operations, while the majority prefer to use online platforms.
Lawmakers present at the meeting urged the establishment of a regulatory framework that would allow Sri Lanka to efficiently collect taxes on online gaming.
In August, the country opened its first international-standard integrated resort with a casino, City of Dreams Sri Lanka. The property, managed by global casino operator Melco Resorts and Entertainment Ltd, is located in the capital, Colombo.
Last month, Sri Lanka’s Cabinet of Ministers approved a 2025 budget proposal to increase the country’s betting and gaming levy by three percentage points to 18 percent, and to double to US$100 the casino entry fee applicable to its own citizens.
